Monolithic blockchains, which combine different layers into a single architecture, performed well in September, according to a report from VanEck.
The report noted price increases for#Solana(#SOL),#Sui(#SUI), and#Aptos(#APT), which rose 14%, 118%, and 23%, respectively. Sui's rise was driven by a 140% increase in daily active addresses during the month, pushing its market cap to over $5 billion.
VanEck also noted that Aptos' Raptr software update was a major factor in the 30% increase in daily active addresses.
Monolithic blockchain systems like Solana perform better due to higher performance and more efficient design compared to modular chains.
Solana, which Pantera Capital often calls the âMacOS of the blockchain spaceâ for its vertically integrated approach, has lower transaction fees and faster processing, making it a viable platform for small payments, asset tokenization, and NFT issuance.
At the same time, a previous VanEck analysis noted that lower fees and faster transaction speeds of new layer-one blockchains are luring users away from #Ethereum, contributing to its low price in 2024.
